Global Market Insights recently added a detailed Industrial Machine Vision Market research study across the global, regional and country level. The report provides 360° analysis from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global market and estimates the future trend of the industry based on this detailed study.
Asia Pacific industrial machine vision market is predicted to witness a significant growth over the forecast timespan. The growth can be accredited to the increasing number of industries in emerging economies including China, India, Japan, and South Korea. An increase in the demand for consumer products in China is providing growth opportunities to the industrial machine vision market. The growing trend of the drift toward 3D-based industrial machine vision systems is expected to propel the regional market growth.
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Industrial Machine Vision Market size is expected to witness growth owing to the rising demand for automated quality inspection across various industries. With the rising number of manufacturing plants & facilities across the globe, manufacturers are focusing increasingly on quality assurance in the production process. It has resulted in the increasing adoption of machine vision technology as an internal part of the automation development process. Traditional manufacturing procedures relied on human element at the inspection stage, which proved to be less efficient.
Increasing demand for Industrial Internet of Things (IoT) and Artificial Intelligence (AI) infused machine vision systems is anticipated to boost the industrial machine vision market over the forecast timespan. AI’s capability to make intelligent decisions in the real-time in uncertain environments and to combat cybersecurity threats is fueling the industry demand. In addition, the miniaturization of electronic hardware components and the development of enhanced AI-based software algorithms have led to an increasing integration of machine vision and IIoT.
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Unpredictable end-user demands pertaining to industrial machine vision applications are major factors restricting the industrial machine vision market growth. The requirement of the type of machine vision technology changes depending on the manufacturing industry under consideration. These changing requirements require enhanced software algorithms for inspection or manufacturing procedures.
Based on application, the industrial machine vision market can be classified into identification, measurement, positioning & guidance, and quality assurance & inspection. The quality assurance & inspection segment will witness growth owing to the increasing demand for high-quality products in less amount of time. Utilization of machine vision enhances the automation process by identifying problems in a short span of time. In addition, the rising requirement of industries to reduce operational costs and improve the response time is contributing to the industry demand.
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By end-use, the industrial machine vision market can be categorized into solar panel manufacturing, machinery, glass, pharmaceuticals, rubber & plastics, food & packaging, wood & paper, metals, printing, electronics & semiconductor, consumer electronics, and automotive. Food & packaging involves a range of processes that include portioning, sorting, grading, processing, quality checking, and packaging. These processes require machine vision technology for the smooth operation of the manufacturing process.
Key players operating in the industrial machine vision market include Omron Corporation, Teledyne Technologies, Keyence Corporation, MVTec Software GmbH, National Instruments, Texas Instruments, Baumer Optronic, Qualitas Technologies, Sick AG, and ISRA Vision AG. Companies operating in the industry are trying to strengthen their market presence in emerging economies with the launch of advanced solutions and by involving in merger & acquisition activities. For instance, in April 2017, Omron Corporation announced that the company will be acquiring industrial camera firm Sentech Co., Ltd. to provide enhanced solutions to customers.
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